AGRIBUSINESS: Markup Scheduled for Farm Bill

The Senate has scheduled a markup of the next farm bill on Tuesday, May 14th.
Senate Ag Chair Debbie Stabenow’s mark is expected to provide for small cuts to food stamps and to curb crop insurance subsidies for high-income farmers.
North Dakota Senator John Hoeven says Senate Ag will start with the 2012 farm bill but will change some aspects. Notably, he expects the counter-cyclical program to be added again.
However the Senate will be looking for ten billion additional dollars to cut from last year’s $23 billion in savings.
New York Senator Kirsten Gillibrand expects the committee to consider cutting food stamps by about four billion dollars over 10 years – a move she opposes, citing a statistic that such cuts would result in an average benefit reduction of $90 per month for nearly 500,000 households.

House Majority Leader Eric Cantor said Friday he’s committed to moving a five-year farm bill this summer. Passage of a sweeping farm bill in the House faces Conservative groups criticizing farm subsidies as corporate welfare, who also push for deep cuts to food stamps that Democrats are unlikely to accept

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